Kodiak Sciences (NASDAQ:KOD) Stock Falls 6.4% – Time to Sell?

Kodiak Sciences Inc. (NASDAQ:KOD)’s stock price dropped 6.4% during trading on Friday. The stock traded as low as $95.00 and last traded at $92.11. Approximately 221,164 shares traded hands during trading, a decline of 80% from the average session volume of 1,103,161 shares. The stock had previously closed at $98.46.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KOD. The Goldman Sachs Group reissued a “neutral” rating and issued a $103.00 price objective on shares of Kodiak Sciences in a research note on Wednesday. HC Wainwright lifted their target price on shares of Kodiak Sciences from $58.00 to $96.00 and gave the stock a “buy” rating in a research note on Monday. Wall Street Zen lowered shares of Kodiak Sciences from a “sell” rating to a “strong sell” rating in a report on Saturday, September 26th. JPMorgan Chase & Co. increased their target price on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Kodiak Sciences in a research report on Friday, July 10th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.43.

Kodiak Sciences Trading Down 7.9%

The company has a fifty day moving average price of $42.47 and a two-hundred day moving average price of $39.30. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of -21.79 and a beta of 2.02.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.09). As a group, equities research analysts expect that Kodiak Sciences Inc. will post -3.89 earnings per share for the current year.

Insider Transactions at Kodiak Sciences

In related news, Director Bros. Advisors Lp Baker purchased 33,726 shares of Kodiak Sciences stock in a transaction dated Tuesday, September 29th. The shares were acquired at an average price of $85.05 per share, for a total transaction of $2,868,396.30. Following the acquisition, the director directly owned 20,191,214 shares in the company, valued at approximately $1,717,262,750.70. The trade was a 0.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders acquired 1,941,755 shares of company stock valued at $156,986,026. 44.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kodiak Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Kodiak Sciences in the 1st quarter valued at about $26,000. Westfuller Advisors LLC acquired a new stake in shares of Kodiak Sciences during the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Kodiak Sciences by 1,221.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock worth $28,000 after buying an additional 916 shares during the last quarter. KBC Group NV purchased a new stake in shares of Kodiak Sciences during the 1st quarter valued at approximately $39,000. Finally, E Fund Management Co. Ltd. purchased a new stake in shares of Kodiak Sciences during the 2nd quarter valued at approximately $228,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

About Kodiak Sciences

Kodiak Sciences Inc (NASDAQ: KOD) is a clinical-stage biopharmaceutical company focused on developing medicines for serious retinal diseases. The company’s research is centered on its Antibody Biopolymer Conjugate (ABC) platform, which is designed to combine antibody-based therapies with biopolymer technology to potentially extend the duration of treatment in the eye.

Kodiak’s lead programs have focused on ophthalmic diseases involving abnormal blood-vessel growth or leakage, including wet age-related macular degeneration, diabetic macular edema and retinal vein occlusion.